Tianci International (NASDAQ: CIIT) signs first crypto mining equipment deal
Rhea-AI Filing Summary
Tianci International, Inc. (CIIT), through its wholly owned subsidiary Tianci Group Holding Limited, entered into an Equipment Procurement Agreement on August 21, 2026 with McQueen Tech Co., Limited of Hong Kong. McQueen will sell Tianci Group US$500,000 of Bitmain Model S21 XP cryptocurrency mining equipment. The agreement provides that Tianci Group will pay US$250,000 on or before August 31, 2026 to a bank account designated by McQueen, with the remaining purchase price payable after Tianci Group completes inspection of the delivered equipment. McQueen will also, without additional consideration, help identify suitable hosting locations and provide advisory services for deployment and operation. The agreement states that Tianci Group plans to enter the cryptocurrency mining business to facilitate settlement of mining trade operations conducted by Tianci International, Inc. and its subsidiaries.
Positive
- None.
Negative
- None.
Filing Explained
The August 21 agreement creates a disclosed payment obligation by
8-K Event Classification
2 items: 1.01, 9.01
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Cryptocurrency mining equipment purchase price: US$500,000
Initial payment: US$250,000
Remaining purchase price: US$250,000
+3 more
6 metrics
Cryptocurrency mining equipment purchase price
US$500,000
Total value of Bitmain Model S21 XP equipment to be sold by McQueen to Tianci Group under the Equipment Procurement Agreement dated August 21, 2026
Initial payment
US$250,000
Amount Tianci Group will pay on or before August 31, 2026 to a bank account designated by McQueen
Remaining purchase price
US$250,000
Balance of the US$500,000 purchase price payable after Tianci Group completes inspection of the delivered equipment
Agreement date
August 21, 2026
Date of the Equipment Procurement Agreement between Tianci Group Holding Limited and McQueen Tech Co., Limited
Initial payment deadline
August 31, 2026
Latest date by which Tianci Group will pay the initial US$250,000 under the agreement
Trading symbol
CIIT
Common Stock, $0.0001 par value, listed on The Nasdaq Stock Market LLC (Nasdaq Capital Market)
Key Terms
Equipment Procurement Agreement, cryptocurrency mining equipment, Emerging growth company, hosting locations, +1 more
5 terms
Equipment Procurement Agreement financial
"entered into an Equipment Procurement Agreement dated that date (the “Agreement”)"
cryptocurrency mining equipment technical
"US$500,000 of Model S21 XP cryptocurrency mining equipment manufactured by Bitmain"
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
hosting locations technical
"assist Tianci Group in identifying suitable machine hosting locations"
mining trade operations financial
"to facilitate the settlement of mining trade operations carried on by Tianci International"
FAQ
What agreement did Tianci International, Inc. (CIIT) enter into on August 21, 2026?
Tianci, through Tianci Group Holding Limited, entered into an Equipment Procurement Agreement with McQueen Tech Co., Limited for the purchase of Bitmain Model S21 XP cryptocurrency mining equipment valued at US$500,000.
How much is Tianci International, Inc. (CIIT) spending on cryptocurrency mining equipment?
The agreement provides for the purchase by Tianci Group of US$500,000 of Bitmain Model S21 XP cryptocurrency mining equipment from McQueen Tech Co., Limited.
What is the payment schedule under Tianci International, Inc. (CIIT)'s equipment agreement?
Tianci Group will pay US$250,000 on or before August 31, 2026 to a McQueen-designated bank account, with the remaining US$250,000 payable after Tianci Group completes inspection of the delivered equipment.
What additional services will McQueen provide to Tianci International, Inc. (CIIT) under the agreement?
Without additional consideration, McQueen will assist Tianci Group in identifying suitable hosting locations and will provide advisory services for deployment and operation of the cryptocurrency mining equipment.
Why is Tianci International, Inc. (CIIT) entering the cryptocurrency mining business?
The agreement states that Tianci Group plans to enter the cryptocurrency mining business to facilitate the settlement of mining trade operations carried on by Tianci International, Inc. and its subsidiaries.
Which subsidiary of Tianci International, Inc. (CIIT) is party to the equipment agreement?
The counterparty is Tianci Group Holding Limited, a wholly owned subsidiary of Tianci International, Inc., which entered into the Equipment Procurement Agreement with McQueen Tech Co., Limited.
AI-generated analysis. How Rhea-AI works. Not financial advice.
